In his new book, Subprime Attention Crisis: Advertising and the Time Bomb at the Heart of the Internet, researcher Tim Hwangmakes the case that the core advertising model driving Google, Facebook, and many of the most powerful companies on the internet is—at its heart—a multibillion dollar financial bubble. Drawing parallels to the 2008 subprime mortgage crisis, Hwang shines a spotlight on the lack of transparency, flawed incentives, and outright fraud that keep this machine running.
Watch this virtual book talk with the author and New York Times technology reporter Kashmir Hill, recorded on October 14, 2020. Hill writes about the unexpected and sometimes ominous ways technology is changing our lives, particularly when it comes to our privacy. Her work has appeared in Forbes Magazine, The New Yorker, and The Washington Post. Their discussion will tackle:
• Why data-driven, online advertising may be much, much less effective than it looks
• The long-term impact of the covid-19 recession on the media and online ads
• Whether or not the giants of Big Tech are already “too big to fail”
This discussion also focuses on the future, and how we might be able to transition to a better, more financially robust internet. Joining the discussion will be Desigan Chinniah, who co-leads Grant for the Web—a $100 million fund launched in 2019 to spur open standards and pilot new sustainable business models for the internet.